[DISCLOSURE: Cards from our partners are mentioned below.]
It can be difficult for busy or absentminded people to remember to redeem their credit card rewards on a regular basis. But when they don’t, rewards go unused and in some cases are vulnerable to expiration dates.
Many credit card issuers are happy to leave your rewards untouched, as it saves them money. But a few credit cards will let you set up automatic redemptions so you’re never leaving rewards on the table.
Here are three credit cards that will automatically redeem your credit card rewards for you.
Bank of America Cash Rewards
Rewards: 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs for up to $2,500 in combined purchases each quarter; 1% cash back on all other purchases.
Sign-Up Bonus: $150 cash rewards bonus if you spend $500 in the first 90 days.
Annual Fee: $0
Annual Percentage Rate (APR): 0% APR for 12 months on purchases and balance transfers, then variable 14.24% to 24.24% APR.
Why We Picked It: Your cash back rewards are eligible for automatic redemption, and Bank of America customers can see additional value.
Automatic Redemptions: Your cash back can be redeemed for a statement credit, check, or bank deposit once you’ve earned $25 in rewards. Cardholders receive an additional 10% cash back when they redeem for a deposit into a Bank of America checking or savings account or an eligible Merrill Lynch Cash Management account. You can easily opt for automatic redemptions from within your rewards portal, and your cash rewards will automatically redeem on a recurring basis provided you’ve met the $25 threshold.
Drawbacks: If you don’t have a Bank of America or eligible Merrill Lynch account, you won’t earn as much cash back.
Rewards: 1.5% cash back on all purchases.
Sign-Up Bonus: $150 cash bonus if you spend $500 in the first three months.
Annual Fee: $0
APR: 0% APR for 15 months on purchases and balance transfers, then14.49% - 24.49% (Variable) APR.
Why We Picked It: This card offers multiple automatic redemption options.
Automatic Redemptions: Every purchase earns 1.5% cash back, which can be redeemed for a check or statement credit. Your rewards can be automatically redeemed at a predetermined time every calendar year or once you reach a specific threshold ($25, $50, $100, or $200).
Drawbacks: There are higher cash back rates available, especially if you’re willing to put a little more work in.
Charity Charge Mastercard
Rewards: 1% cash back on all purchases for the nonprofit(s) of your choice.
Sign-Up Bonus: None
Annual Fee: $0
APR: 1.99% APR on purchases and balance transfers for six months, then the prime rate plus 6.99% to the prime rate plus 16.99% APR.
Why We Picked It: This card helps the charitable support the causes they care about.
Automatic Redemptions: Every purchase earns 1% cash back, which is automatically donated to your nonprofit of your choice on a quarterly basis. You can select up to three charities and your cash back donations are tax deductible.
Drawbacks: Other cards earn rewards at a higher rate, and with a little more work you could manually donate them to your favorite charity.
How to Choose a Credit Card for Automatic Redemption
Before you pick a card with automatic redemptions, you should ask yourself what’s stopping you from regularly redeeming your current rewards. If it’s simply a matter of forgetfulness, a recurring calendar reminder could solve your woes.
Make sure to carefully evaluate the redemption options of any card you’re considering. The ideal card offers redemptions that you’ll actually be motivated to use; otherwise, the card won’t be as valuable.
If you find it difficult to pay attention to credit card rewards, avoid cards that make you jump through too many hoops or constantly change cash back categories. These cards will likely be too much work to track.
What Credit is Needed for a Card With Automatic Redemptions?
Most of the cards on this list require good to excellent credit to qualify. Make sure to check your credit score before you apply for a card, as hard inquiries can ding your credit score a few points, and you don’t want to bother unless you have a good chance of approval. You can check your credit score for free at Credit.com.
At publishing time, the Capital One Quicksilver Cash Rewards Credit Card is offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved, or otherwise endorsed by the issuer(s).
Note: It’s important to remember that interest rates, fees, and terms for credit cards, loans, and other financial products frequently change. As a result, rates, fees, and terms for credit cards, loans, and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees, and terms with credit card issuers, banks, or other financial institutions directly.